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Text: SSB00147                          Text: SSB00149
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Senate Study Bill 148

Bill Text

  1  1    Section 1.  Section 16.100, Code 1997, is amended by adding
  1  2 the following new subsection:
  1  3    NEW SUBSECTION.  1A.  a.  Moneys transferred to the housing
  1  4 improvement fund pursuant to section 428A.8, subsection 1,
  1  5 paragraph "a", for the purposes of this paragraph, shall be
  1  6 distributed, on a per capita basis according to the latest
  1  7 federal decennial census, to each county.
  1  8    b.  In order to receive moneys under this subsection, a
  1  9 county shall be a member of a housing council.  The housing
  1 10 council shall consist of the supervisors of the county and the
  1 11 mayor of each city in the county, or their designees.  A
  1 12 housing council may represent more than one county and the
  1 13 cities within each county and may be an entity formed under
  1 14 chapter 28E or an entity under chapter 28H.
  1 15    c.  The function of the housing council shall be to
  1 16 coordinate housing programs in the county including having
  1 17 housing needs assessments completed if not already done,
  1 18 developing or coordinating a housing plan approved by the
  1 19 department of economic development, encouraging the formation
  1 20 of partnerships with other governmental entities and public-
  1 21 private partnerships regarding housing, and recommending
  1 22 funding for projects under the housing plan from moneys
  1 23 received under this subsection.
  1 24    d.  Moneys received under this subsection shall only be
  1 25 used for housing programs which facilitate housing
  1 26 development, including housing trust funds or programs for the
  1 27 rehabilitation or construction of housing.  The cost of the
  1 28 housing needs assessment may be paid from moneys received
  1 29 under this subsection.  Moneys not obligated for a project
  1 30 recommended by the housing council within one year of transfer
  1 31 shall revert to the housing improvement fund.
  1 32    e.  Counties receiving moneys under this subsection shall
  1 33 track the use of the funds by project, program, or activity
  1 34 and shall provide a report to the department of economic
  1 35 development and the Iowa finance authority regarding the use
  2  1 of the funds by December 15 of each year.
  2  2    f.  Moneys provided under this subsection shall not be used
  2  3 to supplant funding for housing programs provided by a city or
  2  4 county.
  2  5    g.  The authority shall adopt rules to administer this
  2  6 subsection.
  2  7    Sec. 2.  Section 428A.8, Code 1997, is amended to read as
  2  8 follows:
  2 10 IN COUNTY.
  2 11    1.  On or before the tenth day of each month the county
  2 12 recorder shall determine and pay to the treasurer of state
  2 13 eighty-two and three-fourths percent of the receipts from the
  2 14 real estate transfer tax collected during the preceding month
  2 15 and the treasurer of state shall deposit ninety-five the
  2 16 receipts as follows:
  2 17    a.  Two-thirds percent of the receipts in the general fund
  2 18 of the state and transfer five percent of the receipts shall
  2 19 be transferred to the Iowa finance authority for deposit in
  2 20 the housing improvement fund created in section 16.100.  Of
  2 21 the moneys transferred under this paragraph, sixty percent
  2 22 shall be used in accordance with section 16.100, subsection
  2 23 1A, and forty percent shall be used for the other purposes of
  2 24 the housing improvement fund.
  2 25    b.  One-third of the receipts shall be deposited in the
  2 26 general fund of the state.
  2 27    2.  The county recorder shall deposit the remaining
  2 28 seventeen and one-fourth percent of the receipts in the county
  2 29 general fund.
  2 30    3.  The county recorder shall keep records and make reports
  2 31 with respect to the real estate transfer tax as the director
  2 32 of revenue and finance prescribes.  
  2 33                           EXPLANATION
  2 34    This bill provides that two-thirds of the real estate
  2 35 transfer tax proceeds currently deposited in the general fund
  3  1 of the state, except for five percent of that amount which is
  3  2 currently transferred to the Iowa finance authority, shall be
  3  3 deposited in the housing trust fund of the Iowa finance
  3  4 authority.  Sixty percent of the funds transferred to the Iowa
  3  5 finance authority shall be used to fund a local housing
  3  6 assistance program and 40 percent shall be used for other
  3  7 purposes under the housing trust fund.  Moneys for the local
  3  8 housing assistance program shall be distributed on a per
  3  9 capita basis to each county which is a member of a housing
  3 10 council.  The moneys shall be used for housing development and
  3 11 shall shall not supplant existing local resources.  
  3 12 LSB 2206YC 77
  3 13 mk/jj/8

Text: SSB00147                          Text: SSB00149
Text: SSB00100 - SSB00199               Text: SSB Index
Bills and Amendments: General Index     Bill History: General Index

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